Lucky Joe
Projects
Lucky Joe Copper-Gold Project, Yukon
Property Description & Location | Project Description | Historical Exploration | Recent Results | Future Plans | Figures | Related News Releases | Photo Gallery
Target -- Copper-gold high grade or bulk tonnage
Property Description and Location
The Company has a 100% interest in Lucky Joe, a copper-gold exploration property consisting of 548 claims, covering 9,000 hectares, located 50 km south of Dawson City in the Dawson Mining District, Yukon (see Figure 1). Certain claims are subject to a 1.5% NSR, half of which may be purchased for $2 million. The underlying vendor may also be eligible to receive an additional 800,000 shares (300,000 common shares issued) as the project achieves certain advanced exploration and development milestones culminating in the completion of a feasibility study.
Project Description
The Lucky Joe project hosts a unique style of copper-gold mineralization, with similarities to Capstone's Minto Mine - possibly a gold-rich copper porphyry or an Iron Oxide Copper-Gold (IOCG) deposit type. Soil anomalies and a correlation with linear magnetic anomalies (see Figure 2) indicate a large aerial extent of potential mineralization while geological observations suggest that the mineralization is near surface and possibly flat-lying, with a strong correlation between gold and copper.
Drilling on the original Lucky Joe deposit in the 1970's gave values of 0.3% Cu to 0.6% Cu over thicknesses of 20 to 30 m, with values up to 0.95% Cu over 5.2 m. Gold was shown to have close to a 1:1 correlation with copper. Soil sampling to the north of Lucky Joe has defined a strongly anomalous target: The Papa Bear or Lucky Joe trend is 11.3 km long and is defined by copper and gold with soil values for Cu up to 3,060 ppm and for Au of up 235 ppb, with associated silver and molybdenum. The copper-gold zone extends outwards into a lead and zinc halo that together outline a hydrothermal system over 21 km long and up to 3 km wide. The Ryan's Creek trend parallels the Bear Cub trend, approximately 4 km to the southwest. It has a strike length of 7.2 km and is more strongly enriched in gold relative to the Lucky Joe trend, with high soil values for Cu and Au of 4,400 ppm and 611 ppb, respectively (see Figure 3).
The original Lucky Joe deposit was discovered by Silver Standard in 1970 and was optioned to Riocanex in the mid 1970's. Riocanex carried out mapping, soil sampling and geophysical surveying and 2,437 m of drilling in 15 holes before dropping the option. The property lay dormant until prospector Shawn Ryan, in 2001, following up on a detailed magnetic survey flown by the government, identified a much larger copper-gold target area. The Company completed an initial reconnaissance soil sampling survey on the property in 2002.The property was optioned to Kennecott during Fiscal 2003 and over the next three years, Kennecott spent in excess of $1.5 million in exploration programs and property payments. Work funded by Kennecott included geological mapping of the property, soil sampling, limited geophysical surveying and 1,035.1 m of core drilling in 5 holes. The drilling confirmed that the Bear Cub zone is a very large, metamorphosed and possibly deformed porphyry copper-gold deposit. A significant portion of the Bear Cub zone remains untested. During Fiscal 2006, Kennecott terminated its option.
During the 2006 field season, the Company completed approximately 18 km of gridding, soil sampling, magnetometer surveying and IP surveying on the Bear Cub and Ryan's Creek anomaly areas. There is good correlation between the IP chargeability and anomalous copper and gold soil geochemical values on both grids. Due to a late start, difficult drilling conditions, drill equipment break-downs and the onset of winter weather, only three holes of a proposed 10 hole program were completed. On the Ryan's Creek trend, hole LJ06-09 intersected strongly to moderately altered schist through most of its length. A mineralized zone consisting of trace to 2% chalcopyrite and trace to 2% pyrite was encountered between 48 and 91 m. Within this zone, copper values up to 0.75 % over 3.0 m and gold values up to 3.0 g/t over 2.4 m were encountered. The zone shows a good correlation with soil copper geochemistry, the western edge of a linear magnetic anomaly and a strong IP chargeability anomaly (see Figure 4).
Recent Results
The Company's 2007 drill program was designed to test the coincident chargeability and copper-gold geochemical anomaly along the northern portion of the Ryan's Creek Trend that extends over a strike length of at least 3.5 kilometres. The drill program consisted of 2400 m in 13 holes. Results from this program include 7.3m at 0.905% Cu and .5 g/t gold (LJ07-19), 26.6m at 0.152% Cu (LJ07-18) and 15.3m at 0.176%Cu (LJ07-22). When considered together with the results of hole LJ06-09, these results define a copper-gold mineralized horizon that extends for at least 1,500 m and possibly greater than 3,500 m in strike length. The horizon is defined by pyrite mineralization that occurs as both disseminated and massive to semi massive blebs throughout the host quartz-biotite-chlorite schist. Copper mineralization, with associated elevated gold values, occurs within this horizon as malachite near the upper sections and as disseminated to blebby chalcopyrite at depth. The following table summarizes the significant intersections.
Significant intercepts – 2007 diamond drill program – Lucky Joe
Hole No. |
From(m) |
To(m) |
Width(m) |
Cu (%) |
Au(g/t) |
LJ06-09 |
50.9 |
62.95 |
12.05 |
0.370 |
0.800 |
Includes |
57.0 |
60.05 |
3.05 |
0.760 |
0.380 |
Includes |
60.05 |
62.45 |
2.4 |
0.170 |
3.240 |
LJ07-14 |
171.9 |
187.2 |
15.3 |
0.103 |
0.018 |
LJ07-16 |
27.1 |
46.7 |
19.6 |
0.187 |
0.079 |
LJ07-18 |
35.7 |
62.3 |
26.6 |
0.152 |
0.100 |
includes |
35.7 |
44.3 |
8.6 |
0.107 |
0.162 |
includes |
54.2 |
62.3 |
8.1 |
0.225 |
0.188 |
LJ07-19 |
8.5 |
15.8 |
7.3 |
0.905 |
0.500 |
LJ07-22 |
62.6 |
85.3 |
22.7 |
0.176 |
0.113 |
Mineralized intersections in all holes occur along the eastern edge of a strong IP chargeability anomaly and correlate directly with a sharply defined copper-gold soil anomaly. Copper and gold values are increasing to the south along the Ryan Trend structure, as demonstrated by hole LJ07-19, the most southerly drill hole of the 2007 program, and hole LJ06-09, located 2,000 m further south. The intersections in holes LJ06-09 and LJ07-19 remain open in all directions.
A small program of infill soil sampling and geological mapping was carried out in the first fiscal quarter. The soil results confirmed the probable continuity of copper and gold mineralization between holes LJ06-09 and LJ07-19 (see Figure 5).
Future Plans Figures
90 KB, approx. 18 seconds at 56.6Kbps |
|||
82 KB, approx. 16 seconds at 56.6Kbps |
|||
112 KB, approx. 22 seconds at 56.6Kbps |
|||
197 KB, approx. 38 seconds at 56.6Kbps |
|||
26 KB, approx. 6 seconds at 56.6Kbps |
|||
)
)
)
)
)
Related News Releases
| June 29, 2009 | Copper Ridge Farms Out Its Lucky Joe Copper-Gold Project, Yukon | |
| October 03, 2007 | Final Lucky Joe Drill Results 1500 m Copper-Gold Zone Defined | |
| August 31, 2007 | Initial Drill Results Lucky Joe Cu-Au Project | |
| June 12, 2007 | Drilling Underway At Copper Ridge's Lucky Joe Cu-Au Project | |
| December 13, 2006 | Copper Ridge Intersects Copper-Gold Mineralization In Lucky Joe Drilling | |
| October 20, 2006 | Drilling Completed at Lucky Joe | |
| September 13, 2006 | Copper Ridge Exploration Update Drilling Commences At Lucky Joe | |
| August 18, 2006 | Copper Ridge Field Program Update | |
| May 24, 2006 | Exploration Commences on Copper Ridge's Lucky Joe Copper-Gold Project, Yukon | |
| December 22, 2005 | Copper Ridge - Project Update | |
| October 19, 2005 | Lucky Joe Project Returned to Copper Ridge | |
| August 05, 2005 | Final Drill Results from Lucky Joe Project | |
| July 27, 2005 | Initial Drill Results from Lucky Joe Project | |
| July 05, 2005 | Drilling Underway at Yukon Olympic IOCG Target; Drilling Completed at Lucky Joe | |
| June 09, 2005 | Drilling Program Commences on Lucky Joe Project | |
| May 27, 2005 | Lucky Joe Field Work Commences Project Updates | |
| April 06, 2005 | Copper Ridge Exploration Update | |
| March 16, 2005 | Copper Ridge to Drill Lucky Joe Cu-Au Deposit | |
| January 12, 2005 | Kennecott to Drill Lucky Joe Project | |
| February 03, 2004 | Lucky Joe Project Update | |
| October 27, 2003 | Kennecott Outlines Giant Copper-Gold System at Lucky Joe | |
| August 21, 2003 | Large Copper-Gold Anomalies Defined by Kennecott at Lucky Joe | |
| July 15, 2003 | Exploration Underway at Three Yukon Field Projects | |
| January 21, 2003 | Kennecott Options Copper Ridge's Lucky Joe Copper-Gold IOCG Project, Yukon | |
| October 01, 2002 | 16 km Long Target Confirmed for Copper-gold Exploration at Lucky Joe | |
| August 20, 2002 | Copper-Gold Target Extended at Lucky Joe | |
| July 02, 2002 | Exploration Underway Lucky Joe Copper-Gold Project, Yukon | |
| June 21, 2002 | Additional Lucky Joe Gold-Copper Acquisition, Yukon | |
Visit the Lucky Joe Photo Gallery